Language
DEEN
Market analysis··4 min read

On the Transience and Value of Time in Business Life

Robert Knakal reflects on the finiteness of time and its significance for personal actions and success in the real estate sector.

AI generatedOn the Transience and Value of Time in Business Life – AI-generated illustrative image
On the Transience and Value of Time in Business Life. Illustrative image generated using artificial intelligence (AI). The image does not depict a real property, person or event and is not a documentary photograph. Labelled in accordance with Article 50(4) of the EU AI Act.

At this time of year, as 11th September 2001 is commemorated, Robert Knakal inevitably reflects on time. He recalls the people who went to work that morning expecting an ordinary Tuesday, as well as families who said goodbye, assuming they would reunite in the evening. This serves as a reminder of a fact intellectually known but often forgotten in everyday life: no one knows how much time they have available.

September 11th should never be reduced to a metaphor or a business lesson. It was a horrific day that claimed nearly 3,000 lives and changed countless others forever. Yet, the memory can also inspire reflection. It can remind us of the fragility of life, the importance of our fellow human beings, and the extraordinary privilege of every ordinary day we are granted.

Knakal begins many of his keynote speeches by putting human life into a broader perspective. Scientists estimate the Earth's age at approximately 4.5 billion years. Modern humans have existed for only a tiny fraction of this time. Recorded civilisation occupies an even smaller proportion. A human lifespan, which, with luck, encompasses 80, 90, or perhaps 100 years, is almost mathematically insignificant compared to Earth's history – a flash, an instant. We arrive, get our opportunity, and then it's the next person's turn.

This perspective might make our lives seem meaningless, but Knakal is convinced it should make them incredibly important. For this is our opportunity. We have this remarkably brief window of time to make something of the chance given to us. We get the opportunity to build something, to create, to love people, to help, to start families, to develop friendships, to strive for excellence, to teach, to learn, to nurture, and to contribute. To leave something behind that did not exist before our arrival.

The question is not whether our time will end – that is known. The question is what we do with it while we have it. Too many people live as if there is always more time. 'One day I'll start that business. One day I'll write that book. One day I'll call that person. One day I'll mend that relationship. One day I'll get into shape. One day I'll take that trip. One day I'll tell the people I love how much they mean to me. One day I'll pursue what I've always wanted.' We treat time as if it were an unlimited resource, when in reality it might be the most precious and finite resource we possess.

In business, we invest enormous energy in measuring things: revenue, profit, market share, transactions, square metres, sales volume, productivity, returns. Knakal believes in measurements, in goals, and deeply in achievements. Yet, as he has aged, he has realised that the ultimate balance sheet is much more comprehensive. Was potential maximised? Were talents utilised? Were other people empowered to maximise their potential? Did one act with character? Did one make others better? Were memories created with loved ones? Was a positive impact made? Was the journey truly enjoyed while the goal was relentlessly pursued?

For over four decades, Knakal has worked in commercial real estate and still loves his job. He remains enthusiastic about opportunities, transactions, clients, buildings, and the market. The desire to achieve more tomorrow than yesterday is unbroken. Ambition and perspective, however, are not opposites. On the contrary, Knakal believes that perspective should make us more ambitious – not just regarding earning money or professional success, but also concerning making optimal use of every dimension of our lives.

Recognising the brevity of life creates a wonderful tension. It should provoke urgency, but not fear. It should make us work harder, but also strengthen our willingness to put work aside when someone we love needs us. It should spur us on to strive for excellence, but also to forgive more quickly. It should make us more competitive in becoming our best selves, and less interested in comparing ourselves to others. It should lead us to say yes to opportunities that scare us, and no to things that waste our limited time.

  • Legacy is not just what people remember after we die.
  • Legacy is what we invest in other people during our lifetime.
  • September 11th painfully reminds us that no tomorrow is guaranteed, but today is here.

Above all, this awareness should make us more intentional. Knakal does not believe that making optimal use of our time requires changing the entire world. Most of us will not do that. It means changing the small part of the world entrusted to us: the family, the company, colleagues, clients, the community, the young person one mentors, the stranger one shows kindness to, the people who will one day say that knowing us made a difference in their lives. Legacy is not just what people remember after we die. Legacy is what we invest in other people during our lifetime. September 11th painfully reminds us that no tomorrow is guaranteed. But today is here. This moment is ours. This opportunity is ours. In the vast sweep of history, we have been given an almost impossibly small amount of time. This is our opportunity. Let us seize it.

Looking for
a real estate
agent?

Michael Freitag — founder of FREITAG® Immobilien
Michael Freitag
Founder of FREITAG® Immobilien GmbH
More than 15 years of experience in Bavaria & surroundings
— FREITAG Immobilien

Your discreet partner for institutional transactions in German-speaking Europe.

As a premium real estate firm based in Munich we advise investors, family offices, developers and long-term holders on the acquisition, sale and valuation of residential, income and commercial properties — confidential, close to the market and on equal terms.

3.600+
municipalities on our market radar
48 h
first assessment of your property
Off-market
discreet circle of buyers
DACH
DE · AT · CH
— Confidential contact

Let us talk about your portfolio.

Acquisition profiles, off-market opportunities, valuations or development enquiries — we reply personally within 24 hours, NDA as a matter of course.

Phone
+49 (0) 89 158 90 140
Email
E-Mail anzeigen
Office
Munich
More news